California Dodges One Bullet

Now it must take on the healthcare-industrial complex California dodged a budgetary bullet last week when Congress elected not to change Medicaid reimbursement rules. With 14 million people covered by Medi-Cal, which is California’s version of Medicaid, the consequences for…

Clearing Up More Pension Math

The investment return assumption allocates costs Recent articles about California’s latest pension cost increases reflect confusion about the role of the investment return assumption. While it’s correct that current pension costs increase when investment return assumptions decrease, the articles usually…